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Crypto Exchange OKX Enters Turkey as Part of Global Expansion Plan

Crypto exchange OKX has opened up OKX.TR is a localized version of the platform in Turkey, with trading pairs denominated in Turkish Lira. The exchange announced its plans to expand into the country in early 2023. OKX will offer USDT/TRY, BTC/TRY, and ETH/TRY trading pairs for its local customers. Crypto has become a lifeline for many in Turkey because of the country’s economic struggles and crippling double-digit inflation rate. The Turkish government has been relatively permissive towards cryptocurrency, possibly due to its widespread use and the potential political consequences of alienating millions of crypto users. Two major Turkish banks, Akbank and Garanti BBVA, have launched crypto initiatives.

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